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Just think about it:
Thomas Alva Edison:
"Genius is one percent inspiration and ninety-nine percent perspiration."
Franklin D. Roosevelt: "When you come to the end of your rope, tie a knot and hang on."
I have decided I am going to begin looking for my first apartment building this summer. I am currently pooling together friends with cash. I may only be 19 years old, but I have taken in knowledge for 2 years now, and it is time for action. If I fail, I am sure I will learn much more than any book can explain to me. My plan was drawn up for my first acquisition to occur after college, I will need to change that now though. I figure I will use a buy and hold strategy on this building, with the possibility of cash out refi or 1031 depending on what happens. Maybe I can have close to 20 units or more by the time I graduate (obviously need to take it slow while I am in school), with friends in downtown Chicago managing them.
I still need to draw up this plan, and there is a lot of legwork to be done, I am just thinking aloud here right now. Post started as motivation and turned into what is going on in my head right now.
Thanks for reading,
G. Alexander
Thomas Alva Edison:
"Genius is one percent inspiration and ninety-nine percent perspiration."
Franklin D. Roosevelt: "When you come to the end of your rope, tie a knot and hang on."
I have decided I am going to begin looking for my first apartment building this summer. I am currently pooling together friends with cash. I may only be 19 years old, but I have taken in knowledge for 2 years now, and it is time for action. If I fail, I am sure I will learn much more than any book can explain to me. My plan was drawn up for my first acquisition to occur after college, I will need to change that now though. I figure I will use a buy and hold strategy on this building, with the possibility of cash out refi or 1031 depending on what happens. Maybe I can have close to 20 units or more by the time I graduate (obviously need to take it slow while I am in school), with friends in downtown Chicago managing them.
I still need to draw up this plan, and there is a lot of legwork to be done, I am just thinking aloud here right now. Post started as motivation and turned into what is going on in my head right now.
Thanks for reading,
G. Alexander
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